PSX-100 settles with over 800 points loss

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a volatile session on Friday, as investor sentiment remained dented amid the escalating situation between Pakistan and Afghanistan. The benchmark KSE-100 Index closed the week’s last session with a loss of over 800 points.

The market opened lower and initially dipped to an intra-day low of 165,811.87, shedding over 3,000 points, reflecting early selling pressure.

“The negativity can be attributed to regional tension with Afghanistan, where Pakistan targeted key military installations of the Afghan Taliban regime in Kabul,” said Topline Securities. “Some recovery was observed later during the day, as no retaliatory strikes were carried out by Afghanistan side in response,” it added.

In the final hours of trading, the index drifted lower and settled in the red. At the end, the benchmark KSE-100 Index closed at 168,062.16, down by 830.92 points or 0.49%.

The top negative contribution to the index came “from UBL, FFC, OGDC, PPL & MCB, as they cumulatively contributed -658 points to the index,“ said Topline. Staff Report